Nosto’s Black Friday CyberMonday report reveals that fashion ecommerce performance rebounded after the 2020 holiday season.

The fashion industry’s average order value was up 12 per cent year-over-year, compared to a -3 percentage fall in 2020. Online traffic to ecommerce overall was down 7 percent, and sales were up 2 percent. However fashion is bucking the trend with visits up 2 percentage and sales up 3 percent.

“With fashion conversion rates falling 9 percent and online orders on average 12 percent higher, it feels like people have become more selective,” stated Chloe Pascal, Nosto’s Global Head for Marketing. They are willing to spend more on expensive items because they did not save enough last season. Retailers are likely to be more aggressive after last year’s low sales. They will personalize the shopping experience to highlight the most relevant products, and use tiered discounts and bundles to get shoppers to buy.

Nosto’s analysis was based on more than 88 million visits to 907 ecommerce shops over the Black Friday weekend in Europe, North America and Latin America.

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This holiday season, global gift card spending is up

Square’s Holiday Retail Report reveals that shoppers are eager to return to physical stores, but they are increasingly turning to gift cards to purchase stock items.

The forecast for consumer gift card sales is a 43 percent increase, with physical gift cards increasing by 46 percent and electronic gift cards increasing by 29 percent. As 32 percent more gift cards were sold this year than last, retailers are already making preparations for customers who prefer gift cards to physical gifts.

Square has not seen a significant increase in holiday shopping, despite retailers encouraging consumers to start their holiday shopping early.

Alyssa H., Square’s Executive Vice President, stated that businesses must create seamless and memorable shopping experiences for customers during the holidays. This will encourage them to return to Square in the New Year. To meet buyers’ expectations and needs this year, convenience and customization are key. These moments of truth are what really matter and will help build brand loyalty and reputation.

Square examined payment transactions in the U.S. retail industry between September-October 2020, September-October 2021 and September-October 2021 for its report. It found that jewellery demand was up 26 percent, and that health and beauty products were in demand by 81 percent.

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